The success story of Richard Liu Qiangdong is extraordinary, considering that he made a multi-billion dollars empire from scratch by himself. Richard Liu worked for many years for a company called Japan Life as the director of computers before he switched his career to become a successful businessman and started a store in Beijing, China. Richard Liu Qiangdong was able to navigate through the heavy competition in the retail business and from a single store; he opened a dozen more that were later transformed into an e-commerce business in 2004. The success that his company achieved is primarily due to the innovative and effective marketing and sales strategies that he developed and help execute.
Richard Liu Qiangdong wanted to become a politician when he was young and even graduated with a degree in sociology from Renmin University to follow his political ambitions. However, he later realized that to have a flourishing career, it is necessary to have a degree in business studies. It is for this reason he joined the famous China Europe International Business School, where he completed his Masters in Business Administration. After Richard Liu completed his studies, he worked for Japan Life for several years, where he was promoted to the post of Director of Computers. It is during this time that he was able to gather some capital to start his first business venture in the form a shop at China Technology Hub in Beijing.
The success that his online store witnessed is what led to one success story after another, which eventually became the JD.com we know today. It is a publicly traded firm and is listed in the New York Stock Exchange as well. Richard Liu Qiangdong is not satisfied even though Jingdong is one of the top e-commerce companies in China. He is trying to add innovative systems into the system to make the company more efficient. The company also has a partnership with the best brands allowing its customers to enjoy the latest fashion while sitting at home. It is the reason why the company has been growing at a fast pace and continue to set high standards.
Medicare for All will soon replace Obamacare a health insurance program that was introduced by the Obama administration. Experienced economists and research analysts like Ted Bauman predicts that the uncertainty surrounding Obamacare and health regulations is undoubtedly going to badly hit the big health insurance firms who were the biggest beneficiaries of the Obamacare program. Medicare for All plan has lately been gaining popularity from both quarters of the political divide. The program is a healthcare system that will be operated entirely by the government as opposed to Obamacare that was left in the hands of health insurance private companies. According to Ted Bauman, the introduction of Medicare for All program will be bad news for healthcare insurers.
The healthcare insurance companies have been pocketing vast sums of profits through the collection of higher premiums from subscribers who had minimal control of the healthcare services they purchased and at what price. As a result of the massive profits insurance companies were collecting during the Obama administration the shares of these companies have been skyrocketing in the stock market. Ted Bauman says that the Obamacare model was designed to operate under the private health insurers. The program created a mandatory mass market for the private insurers, and as a result, the firm stocks fetched reasonable prices at the stock market. The adoption of Medicare for All program will completely revolutionize the healthcare industry and will lead to a massive disruption of stocks in the health sector.
Ted Bauman predicts that health insurance firms will be reduced to providing high-end services only to a few wealthy individuals who can afford to pay for the high premiums. According to Bauman, the firms will be blocked out of the mass insurance market something that will be catastrophic to their share prices. Eventually, the firms will be reduced to a shell of their former selves says, Bauman.Ted Bauman also adds that it is not only the insurance companies that will get affected but also pharmaceuticals companies that have also been benefiting from Obamacare. Bauman says that currently, Congress has forbidden the government from negotiating drug prices with the pharmaceutical companies and if the government stands their ground pharmaceuticals will be forced to lower their costs significantly. Click here.